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#405138 - 07/28/12 03:58 PM New Penn State prez cries "uncle"
cant_remember Offline
Member
MaleSurvivor

Registered: 02/26/05
Posts: 1048

From Deadspin:

Erickson says Penn State is insured and has "adequate" protection to pay out on the various suits. The school is hoping to settle the claims "as quickly as possible" so as to avoid "drag[ing] victims through another round of court cases."

Such a strategy also avoids dragging the school in front of more angry jurors, this time with a chance to cut a check for someone.

http://deadspin.com/5929837?utm_campaign...dium=socialflow
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#405145 - 07/28/12 07:31 PM Re: New Penn State prez cries "uncle" [Re: cant_remember]
LN3(SS) Offline
Member
MaleSurvivor

Registered: 06/20/08
Posts: 486
Loc: MD
Yeah, right!

The school's insurer has filed a memo seeking to deny coverage for any incident after 1998, citing the concealment of the abuse by Spanier and Curley. Not only that but the insurer is also claiming that the abuse is intentional misconduct that bars the insurer from paying out.

I see endowment funds being used.

http://www.theatlanticwire.com/national/...t-claims/55124/

Brian
_________________________
"When we go into battle, I will be the first to set foot on the field, and I will be the last to step off, and I will leave no one behind. Dead, or alive, we will all come home together." LTG Hal Moore, Jr., USA (Ret.)

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#405156 - 07/28/12 10:05 PM Re: New Penn State prez cries "uncle" [Re: cant_remember]
MrEdd Offline
Member
MaleSurvivor

Registered: 01/24/03
Posts: 326
Loc: Texas
Given that the endowment has 1.7 billion, and given alumni donations last year alone were close to 209 million, I wouldn't fret about the financial viability of Penn State.

Money can't make this thing right.

But on the other hand, Penn State pretty much defines deep pockets.
_________________________
Some Things are not problems to be solved, rather, they are facts which must be coped with over time.

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#405285 - 07/30/12 10:06 AM Re: New Penn State prez cries "uncle" [Re: cant_remember]
bodyguard8367 Offline
Member
MaleSurvivor

Registered: 05/16/12
Posts: 1159
Loc: ""
""


Edited by bodyguard8367 (02/26/14 07:40 PM)
Edit Reason: SILENCED

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#405287 - 07/30/12 10:30 AM Re: New Penn State prez cries "uncle" [Re: MrEdd]
LandOfShadow Offline
Member
MaleSurvivor

Registered: 12/11/07
Posts: 684
Loc: Minneapolis, Minnesota USA
Originally Posted By: MrEdd

Money can't make this thing right.


Exactly.

And yet it's the main focus and response.
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Et par le pouvoir d’un mot Je recommence ma vie, Je suis né pour te connaître, Pour te nommer
Liberté

And by the power of a single word I can begin my life again, I was born to know you, to name you
Freedom

Paul Eluard

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#405307 - 07/30/12 02:38 PM Re: New Penn State prez cries "uncle" [Re: cant_remember]
cant_remember Offline
Member
MaleSurvivor

Registered: 02/26/05
Posts: 1048
The survivors should sue for ownership of the Penn State lion logo, and then license it back to the university and to merchandise makers.

That's a lot more than a single pay-out, and they've earned it.
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Recovery is possible. Hang in there, brothers.

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